French Prime Minister Sébastien Lecornu Tenders Resignation After Under a Month in Office
The nation's PM Lecornu has handed in his resignation, less than a day after his ministers was unveiled.
The Elysée palace made the announcement after Lecornu met Macron for an meeting on Monday morning.
This shock move comes only under four weeks after Lecornu was given the PM role following the collapse of the prior administration of his predecessor.
Political factions in the National Assembly had sharply condemned the structure of his ministerial team, which was very close to Bayrou's, and vowed to reject it.
Calls for New Vote and Government Unrest
Multiple political groups are now demanding a snap election, with certain voices demanding Macron to step down as well - although he has consistently affirmed he will not stand down before his term ends in five years from now.
"The President needs to choose: calling new elections or resignation," said Chenu, one of key representatives of the far right National Rally (RN).
The outgoing PM - the former armed forces minister and a supporter of Macron - was France's fifth prime minister in a two-year span.
Background of Political Turmoil
French politics has been very volatile since last summer, when early legislative polls resulted in a deadlocked assembly.
This has posed obstacles for every premier to garner the necessary support to pass any bills.
The previous administration was rejected in September after the assembly voted against his fiscal tightening package, which aimed to reduce public expenditure by $51 billion.
Financial Pressures and Market Reaction
The French shortfall hit 5.8 percent of economic output in 2024 and its public debt is 114% of GDP.
That is the number three debt level in the euro area after Italy and Greece, and equal to almost 50,000 euros per person.
Share prices dropped in the Paris bourse after the news of Lecornu's resignation was released on Monday.
